“Area 2071” – which is supervised by the Dubai Future Foundation, today, Saturday, launched 3 pilot projects in the field of financing emerging technology companies.
This comes within the framework of employing its global partnerships to find innovative solutions that facilitate the access of emerging companies that cannot borrow in their early stages to support investment institutions in order to develop their businesses.
The three projects were selected from among more than 150 projects participating in a special program launched by “District 2071” in partnership with the “i-Dubai Lab” Innovation Center in the global “Procter and Gamble” company, with the aim of enabling emerging companies in various sectors and markets in the region and the world to Achieving financial stability in order to expand its business and range of services.
These projects were developed by SwipeZoom from the UAE, Next Billion from Singapore, and Hello Gold from Malaysia, after a comprehensive evaluation process according to a set of criteria related to the feasibility, adaptability, and impact of the proposed solutions. Potential in your target market.
Abdulaziz Al-Jaziri, Executive Vice President of the Dubai Future Foundation, confirmed that the partnership between “District 2071” and “Procter & Gamble” provides an opportunity for various emerging companies to present their innovative ideas and solutions in support of small retail enterprises and provide them with financing to expand and develop their business in a way that contributes to enhancing quality The lives of thousands of people in different countries of the world.
Omar El-Shenawy, CEO of Procter & Gamble in the Middle East, East and West Africa, and general export markets, said,
“We are pleased to launch this first-of-its-kind initiative in the field of providing financing to small companies, which aims mainly to support our customers in emerging markets. Our partnership with Area 2071 “In employing the latest advanced technologies from all over the world and achieving our vision to support small companies in the retail sector to provide products and services of high quality and value.”
The “Swipe Zoom” project, which was founded in Dubai in 2012, focuses on providing integrated solutions to pay money and provide logistical services, allowing e-commerce companies to ship their products around the world. The solutions offered by the company are based on bringing together financial institutions and small businesses that need financing so that the process between financial institutions and beneficiaries is fully automated.
Next Pelion specializes in developing rural products and rapid market processes that can be modified to suit consumer and retail initiatives. The solutions offered by the company help small retailers increase their profits by pooling local distributors and third-party logistics services at the local and national levels. Provides retailers with the opportunity to obtain financial assistance using banks.
“HelloGold” is well-known for developing the world's first Shariah-compliant gold platform, with the aim of devising a new method for the way to buy, save, sell, and collect gold. Since its launch in 2015, the project has attracted more than 200,000 users from around the world.
News Source: https://mediaoffice.ae/en/news/2020/October/10-10/area-2071-launches-3-innovative-projects-to-support-global-startups
